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"Under regulatory pressure, Telegram and the public blockchain project The Open Network (TON) went their separate ways in 2020. However, it appears that they are reconciling now. The TON Foundation announced on Wednesday that they have officially entered into a partnership, and Telegram has integrated TON's self-hosted cryptocurrency wallet, ""TON Space.""
A TON spokesperson revealed that all Telegram wallet users can now use TON Space, with plans to roll it out to global Telegram users in November this year, excluding the United States and some other countries.
Following this news, the TON token surged by 16.2%, with a trading price of $1.96 at the time of writing.
Just in July of this year, the TON blockchain introduced Telegram's new ""WalletPay"" feature, allowing merchants to integrate wallet bots within Telegram to accept cryptocurrency payments, enabling users to pay Bitcoin (BTC), Tether (USDT), and Toncoin (TON) to businesses within the app.
With the deepening of their collaboration, Telegram has now chosen TON as its ""go-to blockchain"" for its Web3 infrastructure. On the other hand, projects built on TON will have preferred access to Telegram's advertising platform, Telegram Ads.
The TON blockchain was initially developed by Telegram but encountered regulatory issues and was sued by the U.S. Securities and Exchange Commission (SEC), leading Telegram to abandon the project. It was then taken over by the TON Foundation, a community development team. However, Telegram's founder, Pavel Durov, has occasionally expressed his support for TON over the past few years." |
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Post time 17-9-2023 15:20:51